Investors Research Corp Buys Shares of 2,075 Veeva Systems Inc. $VEEV

Investors Research Corp bought a new position in Veeva Systems Inc. (NYSE:VEEV) in the 2nd quarter, HoldingsChannel reports. The fund bought 2,075 shares of the technology company’s stock, valued at approximately $368,000.

Several other large investors also recently made changes to their positions in VEEV. Empire Life Investments Inc. raised its position in Veeva Systems by 21.1% during the 4th quarter. Empire Life Investments Inc. now owns 37,054 shares of the technology company’s stock valued at $8,272,000 after purchasing an additional 6,453 shares during the last quarter. Czech National Bank bought a new stake in shares of Veeva Systems in the 2nd quarter worth approximately $7,584,000. Farther Finance Advisors LLC increased its stake in shares of Veeva Systems by 217.2% during the fourth quarter. Farther Finance Advisors LLC now owns 10,470 shares of the technology company’s stock valued at $2,337,000 after buying an additional 7,169 shares during the period. Pictet Asset Management Holding SA increased its stake in shares of Veeva Systems by 14.2% during the fourth quarter. Pictet Asset Management Holding SA now owns 1,110,075 shares of the technology company’s stock valued at $247,817,000 after buying an additional 137,965 shares during the period. Finally, KBC Group NV raised its holdings in shares of Veeva Systems by 180.2% during the fourth quarter. KBC Group NV now owns 201,140 shares of the technology company’s stock valued at $44,900,000 after acquiring an additional 129,346 shares in the last quarter. Institutional investors and hedge funds own 88.20% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently commented on VEEV. Raymond James Financial reaffirmed an “outperform” rating and issued a $225.00 price target on shares of Veeva Systems in a research note on Thursday, June 4th. Zacks Research lowered shares of Veeva Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, May 14th. Mizuho dropped their target price on shares of Veeva Systems from $295.00 to $270.00 and set an “outperform” rating for the company in a research report on Thursday, June 4th. Oppenheimer reaffirmed an “outperform” rating on shares of Veeva Systems in a research note on Monday, July 20th. Finally, Wells Fargo & Company boosted their price target on shares of Veeva Systems from $317.00 to $320.00 and gave the company an “overweight” rating in a research report on Thursday, June 4th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $247.08.

Veeva Systems Stock Up 1.9%

NYSE VEEV opened at $241.07 on Thursday. The firm has a market capitalization of $39.16 billion, a PE ratio of 42.97, a P/E/G ratio of 1.02 and a beta of 0.92. The stock’s 50 day moving average is $187.06 and its 200 day moving average is $180.18. Veeva Systems Inc. has a twelve month low of $148.05 and a twelve month high of $310.50.

Veeva Systems (NYSE:VEEV) last posted its quarterly earnings data on Wednesday, June 3rd. The technology company reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.14 by $0.10. The business had revenue of $882.95 million during the quarter, compared to the consensus estimate of $857.73 million. Veeva Systems had a return on equity of 13.72% and a net margin of 28.37%.The firm’s quarterly revenue was up 16.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.97 earnings per share. Veeva Systems has set its FY 2027 guidance at 9.050-9.050 EPS and its Q2 2027 guidance at 2.210-2.220 EPS. On average, research analysts anticipate that Veeva Systems Inc. will post 6.65 earnings per share for the current year.

Veeva Systems Company Profile

Veeva Systems (NYSE: VEEV) is a cloud software company that develops industry-specific applications and data solutions for the global life sciences sector. Founded in 2007 and headquartered in Pleasanton, California, Veeva focuses on helping pharmaceutical, biotechnology, medical device and consumer health companies manage regulated content, clinical and regulatory processes, quality systems, and commercial operations in a compliant, cloud-native environment. The company completed its initial public offering in 2013 and has since expanded its product suite and international footprint.

Veeva’s product portfolio centers on its Vault platform and related application suites, which provide content and data management, clinical trial and regulatory workflows, quality management, and structured commercial capabilities such as customer relationship management and promotional content management.